FY2027 EPS Estimates for Ardelyx, Inc. (NASDAQ:ARDX) Reduced by HC Wainwright

Ardelyx, Inc. (NASDAQ:ARDX) – Investment analysts at HC Wainwright reduced their FY2027 earnings per share (EPS) estimates for shares of Ardelyx in a report released on Monday, August 5th. HC Wainwright analyst E. Arce now forecasts that the biopharmaceutical company will earn $1.31 per share for the year, down from their previous forecast of $1.41. HC Wainwright has a “Buy” rating and a $11.00 price objective on the stock. The consensus estimate for Ardelyx’s current full-year earnings is ($0.34) per share. HC Wainwright also issued estimates for Ardelyx’s FY2028 earnings at $1.63 EPS.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. Ardelyx had a negative return on equity of 38.41% and a negative net margin of 31.02%. The business had revenue of $73.20 million for the quarter, compared to analyst estimates of $55.03 million. During the same quarter in the previous year, the company earned ($0.08) EPS. The company’s quarterly revenue was up 228.3% on a year-over-year basis.

Other equities analysts have also issued reports about the company. Wedbush reiterated an “outperform” rating and issued a $11.00 target price on shares of Ardelyx in a research note on Friday, August 2nd. Piper Sandler lowered shares of Ardelyx from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $15.00 to $7.00 in a research note on Tuesday, July 2nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ardelyx in a research note on Thursday, June 20th. Citigroup increased their price objective on shares of Ardelyx from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, StockNews.com upgraded Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.43.

Ardelyx Price Performance

NASDAQ:ARDX opened at $5.55 on Tuesday. The company’s 50-day moving average is $6.07 and its two-hundred day moving average is $7.36. The company has a current ratio of 4.53, a quick ratio of 4.36 and a debt-to-equity ratio of 0.66. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -19.82 and a beta of 0.83. Ardelyx has a 12-month low of $3.16 and a 12-month high of $10.13.

Insider Buying and Selling at Ardelyx

In other Ardelyx news, insider David P. Rosenbaum sold 17,872 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $7.00, for a total transaction of $125,104.00. Following the sale, the insider now directly owns 158,502 shares in the company, valued at approximately $1,109,514. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider David P. Rosenbaum sold 17,872 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $7.00, for a total transaction of $125,104.00. Following the completion of the sale, the insider now owns 158,502 shares in the company, valued at approximately $1,109,514. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Raab sold 7,500 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $6.72, for a total transaction of $50,400.00. Following the sale, the chief executive officer now directly owns 1,270,273 shares of the company’s stock, valued at $8,536,234.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 286,182 shares of company stock worth $1,920,302. 5.50% of the stock is owned by company insiders.

Institutional Trading of Ardelyx

Several hedge funds and other institutional investors have recently modified their holdings of the company. Xponance Inc. boosted its holdings in Ardelyx by 12.6% during the fourth quarter. Xponance Inc. now owns 14,112 shares of the biopharmaceutical company’s stock valued at $87,000 after acquiring an additional 1,575 shares during the period. Mackenzie Financial Corp grew its holdings in Ardelyx by 5.6% during the 4th quarter. Mackenzie Financial Corp now owns 30,269 shares of the biopharmaceutical company’s stock worth $188,000 after acquiring an additional 1,608 shares during the last quarter. World Equity Group Inc. increased its holdings in shares of Ardelyx by 15.4% in the second quarter. World Equity Group Inc. now owns 18,402 shares of the biopharmaceutical company’s stock valued at $136,000 after purchasing an additional 2,453 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Ardelyx by 1,026.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 3,233 shares during the period. Finally, ProShare Advisors LLC raised its holdings in Ardelyx by 8.9% during the 1st quarter. ProShare Advisors LLC now owns 57,729 shares of the biopharmaceutical company’s stock worth $421,000 after purchasing an additional 4,735 shares during the last quarter. 58.92% of the stock is currently owned by hedge funds and other institutional investors.

About Ardelyx

Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company's lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.